NMTC Coalition Releases 2020 NMTC Progress Report

Our latest annual report on the New Markets Tax Credit

THE LATEST

Treasury’s CDFI Fund Announces 2019 NMTC Awards

Investments in economically distressed rural, urban and minority communities WASHINGTON, July 15, 2020 — The U.S. Department of the Treasury’s CDFI Fund announced the Calendar Year 2019 New Markets Tax Credit (NMTC) allocation awards today. The CDFI Fund awarded $3.5 billion to 76 Community Development Entities (CDEs) from 30 states and the District of Columbia. Additionally, 15 percent of…

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CDFI Fund Announces More Than $3.5 Billion in New Markets Tax Credits

Wednesday, July 15, 2020 AWARDS WILL SPUR ECONOMIC AND COMMUNITY DEVELOPMENT NATIONWIDE (CDFI FUND PRESS RELEASE) Washington– The U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) announced $3,548,485,000 in New Markets Tax Credits today that will spur investment and economic growth in low-income urban and rural communities nationwide. A total of 76…

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New Markets Tax Credit Coalition Releases 2020 NMTC Progress Report

NMTC Celebrates 20 Years, Nearly 6,400 Projects Financed and Over One Million Jobs The New Markets Tax Credit Coalition today released its 2020 New Markets Tax Credit (NMTC) Progress Report, the sixteenth edition of the report—providing analysis of NMTC activities in 2019 as well as a special insert commemorating the 20th anniversary of the NMTC. An interactive, online…

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Organizations Urge Congress to Pass Emergency Expansion of New Markets Tax Credit

More than 700 businesses, investors and organizations call on Congress to extend and expand the community and economic development tax credit assisting communities hardest hit by COVID-19 WASHINGTON, June 24, 2020 – Today, the New Markets Tax Credit (NMTC) Coalition sent a letter addressed to Congressional leadership and Members of the 116th Congress urging them to take action to…

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The NTMC: Supporting Community-Based Organizations

More than half of New Markets Tax Credit projects expand access to healthcare, social services, childcare, job training, nonprofits, and social service providers working to lift people out of poverty. Federal resources for community development have been cut by more than 80 percent since 1980, and communities increasingly count on the NMTC to support new…

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ABOUT THE NMTC

The New Markets Tax Credit (NMTC) is a shallow, low-cost tax incentive which delivers billions of dollars annually to low-income communities with high unemployment and poverty. The credit finances everything from hospitals to manufacturing facilities to rural broadband expansions.

LATEST RESEARCH

The 2019 NMTC Progress Report, the NMTC Coalition’s annual report on investments and impacts of the NMTC.

EXTENSION CAMPAIGN

The NMTC expires on December 31, 2020. Bipartisan legislation to extend the NMTC has been introduced in the House (H.R. 1680) and Senate (S. 750).

Latest Cosponsors of H.R. 1680

Latest Cosponsors of S. 750

Testimonials


State Fact Sheets and Stories

Videos

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Have a Project?

Do you have a great project in a low income community that is in need of NMTC allocation? We recommend first watching our “How It Works” video.

The next step is to check the CDFI Fund’s mapping site to see if your project is in an eligible census tract.

Finally, check to see which Community Development Entities serving your area have remaining NMTC allocation.

How the NMTC Works

Click to watch a tutorial